We break down some of the most important ideas in finance to help us make better investment decisions. Disclaimer: This podcast was recorded in 2018. The views expressed in this recording are the personal views of the participants as of the date indicated and do not necessarily reflect the views of AQR itself. AQR and its affiliates may have positions (long or short) or engage in securities transactions that are not consistent with the information and views expressed in this presentation. This recording has been prepared solely for informational purposes. Nothing contained in this podcast constitutes investment, legal, tax or other advice, and it should not be viewed as a current or past recommendation or a solicitation of an offer to buy or sell any securities or to adopt any investment strategy. Past performance is no guarantee of future results. There can be no assurance that any investment strategy will be successful. The investment strategies and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation. The information in this recording is based on current market conditions, which will fluctuate and may be superseded by subsequent market events or for other reasons. AQR does not assume any duty to update forward looking statements. The information in this recording has been developed internally and/or obtained from sources believed to be reliable; however, no representation or warranty, express or implied, is made or given by or on behalf of AQR as to the accuracy and completeness or fairness of the information contained in this recording. Any liability as a result of this recording (including any direct, indirect, special or consequential loss or damage) is expressly disclaimed. ©2018 AQR Capital Management, LLC. All rights reserved.